Ontario

Good Ventures, Good Deals: The Centre for Social Innovation’s Community Bond

Tonya Surman, Co-founder and Executive Director of the Centre for Social Innovation (CSI) in Toronto, is a dynamo. Dedicated to fostering innovation and positive social and environmental change through collaboration, Tonya has been practicing what she preaches for over 20 years. Her current venture, CSI, is an innovative collaboration space whose mission is to catalyze, connect and support new ideas that make positive change in the world1. The mission’s latest manifestation is in the form of a unique social capital-raising tool, utilized towards the purchase of the organization’s second location – CSI Annex.

A 36,000 square foot building located near Bathurst and Bloor, CSI Annex will be the future home of nearly 300 organizations focused on creating a better world. Like its predecessor, CSI at 215 Spadina, CSI Annex is not only a shared workspace, but also an innovation hub, incubating social and environmental organizations and helping increase their capacity to affect positive change. But there is one key difference between the organization’s two locations. And that is in the creative deal structure that has allowed CSI to complete the purchase of its new building.

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A Brief History of the Ottawa Community Loan Fund

With a dedicated working Board and one staff member, the not-for-profit Ottawa Community Loan Fund (OCLF) is filling a much-needed social financing void in the Ottawa, Ontario business community. The OCLF was formally launched in July 2000 with the aim of providing micro-credit to entrepreneurs.

Initially, the organization targeted individuals who were trying to establish small businesses and who were not eligible for traditional financing. A special focus on young people was made possible through a partnership with the Canadian Youth Business Foundation.

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Social Finance and Affordable Housing

There is certainly a buzz in government circles across the country about the potential for social finance. This week, the Social Innovation Generation (SiG) at MaRS team was invited to present at an engaging Lunch and Learn session with representatives from the Ontario Ministry of Municipal Affairs and Housing (MMAH). The session was led by Sumera Nabi, Senior Policy Advisor in the Housing Policy Branch at the Ministry, who presented an insightful and in-depth overview of social finance. The noon hour discussion featured excellent questions and valuable perspectives from committed and experienced public servants working in affordable housing.

Check out the presentations below from the SiG team members who presented at the session on topics related to Social Finance and Affordable Housing. It is exciting to open a dialogue on the application of social finance in an area that could have tremendous positive impact for Ontarians currently living in poverty.

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Social Venture Exchange Launches Social Finance Fellowship

Are you a highly motivated individual that is interested in working on the cutting edge of social finance with eminent institutions including MaRS, the TMX Group Inc., the Government of Ontario, Social Innovation Generation (SiG), and global leaders in social finance?

The Social Venture Exchange (SVX) is introducing a new Social Finance Fellowship program open to current graduate and undergraduate students, as well as working and retired professionals, to support venture and fund analysis for the pilot phase of our exciting project in 2011.  This may be your opportunity to use your skills to help local ventures tackle wicked social and environmental problems and to support the development of social finance in Canada. 

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Results of the Social Finance Census Announced

There is a great deal of momentum building following the release of the landmark report of the Canadian Task Force on Social Finance. It provides a focused roadmap with seven key recommendations to mobilize new sources of capital, develop an enabling tax and regulatory environment, and build a pipeline of investment-ready social enterprises.

We wanted to look at the current pipeline to find the clogs and to determine whether there was sufficient capital demand for immediate investment opportunities.

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